Page 80 - Finance News Analysis
Forex kitty swells by $3.57 bn, closes at a record high of $400-bn mark
After remaining unchanged for many weeks, gold reserves also rose by $748.3 mn to $20.691 bn
 "Forex kitty swells by $3.57 bn, closes at a record high of $400-bn mark")
RBI to recoup forex reserves to combat global contagion: BofAML report
The report said the rupee is expected to reach Rs 66.75/USD level by December
Indian Bitcoin exchanges urge investor restraint in highly volatile market
While prices of the crypto currency have crashed globally, it is trading at a 20% premium in India
 "Indian Bitcoin exchanges urge investor restraint in highly volatile market")
Forex kitty up by $1,148 mn to record $394.55 bn
Foreign currency assets rose by $1,142.5 mn to $370.8 bn during the week under review
 "Forex kitty up by $1,148 mn to record $394.55 bn")
Is rising forex kitty fuelling inflation?
Analysts expect it to surpass $400-bn mark by first week of September
 "Is rising forex kitty fuelling inflation?")
Should we recapitalise the banks?
Our priority should be to address the policy failures that gave our banking crisis
 "Should we recapitalise the banks?")
Forex reserve may cross $400-bn by first week of September: Morgan Stanley
The surge in the reserves is occurring on account of high inflows from overseas investors
Future of banking
Customer-focused new technology is critical for financial institutions to remain relevant
 "Future of banking")
Rupee free fall continues, down 5 paise to 64.13 a dollar
Due to sustained demand for the US currency from importers and corporates
 "Rupee free fall continues, down 5 paise to 64.13 a dollar")
Rupee appreciation likely to be a short-term event: BS Poll
The currency is expected to depreciate to over Rs 64 by March, said two-thirds of the respondents
Arvind Panagariya holds meeting to take stock of bitcoin risk
Meeting was attended by Home Secretary Rajiv Mehrishi and representatives from the Finance Ministry
 "Arvind Panagariya holds meeting to take stock of bitcoin risk")
Junk bonds issuance not yet worrisome
If there is a spike in such issuances, it may add to systemic risk in case issuer ends up defaulting
 "Junk bonds issuance not yet worrisome")
Go electronic to pay credit card bills
Banks have started charging customers for payment of credit card bills through cheque
 "Go electronic to pay credit card bills")
Forex reserves surge to record $392.86 billion
In the previous week, the reserves had increased by $2.27 billion to $391.33 billion
 "Forex reserves surge to record $392.86 billion")
Rupee at fresh 2-year high of 63.65 on hopes for capital inflows
Meanwhile, the benchmark BSE Sensex dropped by 78.64 points, or 0.24 per cent, to 32,398.10 in early
Rupee scales 2-year peak of 63.70, rallies 37 paise
After the RBI set the platform by lowering the repo rate by 0.25%
 "Rupee scales 2-year peak of 63.70, rallies 37 paise")
Forex chest swells to all-time high of $391 bn: RBI
The record high was aided by an increase in foreign currency assets
 "Forex chest swells to all-time high of $391 bn: RBI")
Forex reserves up by $2.681 billion at record high of $389 billion
In the previous week, the reserves had marginally declined by $161.9 million to $386.377 billion
 "Forex reserves up by $2.681 billion at record high of $389 billion")
Rupee rebounds 11 paise to 64.32 a dollar, as exporters sell greenback
Upbeat equities and robust capital inflows too helped in the rupee recovery
 "Rupee rebounds 11 paise to 64.32 a dollar, as exporters sell greenback")
Rupee volatility disappears, hedging dips
Part of the reason for the stable currency is active intervention by RBI
 "Rupee volatility disappears, hedging dips")